A very interesting place EU finds itself in...a perfect place I must say. The previous analysis I posted showed a temporary bearish move
for EU, and it has finally arrived at a pivotal zone marked by the bubble. Pivotal because there is so much confluence around this area.
The ABC correction happened within a channel out of which price has just broken out of. As I have said before, a breakout leg usually
takes the nature of an impulse move (5 waves), if that rule is applied to the current EU state, that impulse is followed by a correction
and then another impulse post that. What needs to be determined, is whether or not the correction is complete.
This is just my 2 cents, please do feel free to start a discussion of ideas/opinions down in the comments section to help each other
be best prepared for any scenario.
I hope you are having a lovely trading week.
for EU, and it has finally arrived at a pivotal zone marked by the bubble. Pivotal because there is so much confluence around this area.
The ABC correction happened within a channel out of which price has just broken out of. As I have said before, a breakout leg usually
takes the nature of an impulse move (5 waves), if that rule is applied to the current EU state, that impulse is followed by a correction
and then another impulse post that. What needs to be determined, is whether or not the correction is complete.
This is just my 2 cents, please do feel free to start a discussion of ideas/opinions down in the comments section to help each other
be best prepared for any scenario.
I hope you are having a lovely trading week.
Trade active:
Trade entered, My targets are listed on the chart. Let's see how it performs
Trade entered, My targets are listed on the chart. Let's see how it performs
